Cambodia clears 3 China-backed projects in shoe parts, textile items

22 Mar '23

1 min read

Pic: Shutterstock

The Council for the Development of Cambodia (CDC) recently approved three more manufacturing investment projects with Chinese backing, with a total registered capital of around $16 million. The projects are expected to create 3,054 jobs.

The three companies are Dazhengxuan (Cambodia) Industrial Co Ltd, Xin Yuan Cheng Factory Co Ltd and Xu Wei Garment (Cambodia) Co Ltd.

Xin Yuan Cheng’s $5.1-million shoe components factory in Ang Snuol in Kandal province will generate 318 jobs. Xu Wei’s $5.1-million garment factory in Por Sen Chey district in Phnom Penh will create 995 jobs.

Dazhengxuan’s $6-million factory in Dangkor district in Phnom Penh will churn out umbrellas, raincoats, curtains, tablecloths and similar items, a Cambodian newspaper reported.

CDC has already approved 27 new private investment projects this year, including 19 in textile-related sectors—worth $198.2 million.

The country’s international merchandise trade volume was worth $52.425 billion last year, rising by 9.19 per cent over the 2021 figure, according to customs data.

Of that, imports and exports were worth $29.942 billion and $22.483 billion respectively—up by 4.32 per cent and 16.44 per cent year on year. That narrowed the trade deficit by 20.60 per cent on a yearly basis to $7.459 billion.

Fibre2Fashion News Desk (DS)

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